ECONOMY & BUSINESS

Wipro Consumer Care will experience strong growth in emerging markets: Azim Premji

Azim Premji founded Wipro Consumer Care & Lighting (WCPL), an FMCG company with revenues of Rs 10,000 crore in FY23. It is in a good position to benefit from the expansion of developing nations with low per capita consumption.

Santoor soap, the marquee product of WCPL, brought in Rs 2,650 crore in revenue in FY23. The portfolio also features Yardley, Enchanteur, Chandrika, and Softouch as important brands.

Over the past ten years, WCPL has made a number of smart acquisitions, both domestically and internationally, which have aided it in achieving a balanced revenue split between the two markets.

Premji stated in an interview with Business Today that WCPL is upbeat about its chances for future expansion. He thinks that the company will become a significant FMCG player both domestically and internationally thanks to its strong brands, appetite for expansion, and successful inorganic strategy.

The following supplementary information corroborates the claim:

WCPL has increased its revenue from Rs 300 crore in 2003 to Rs 10,000 crore in FY23, a CAGR of over 20%. WCPL is currently ranked seventh among FMCG companies in India, behind Hindustan Lever, Adani Wilmar, ITC (non-cigarette FMCG), Nestle India, Britannia, and Dabur. WCPL’s international business now accounts for over 50% of its total revenue. WCPL is well-established in Southeast Asia, where it dominates the personal care sector in Malaysia and Vietnam.

WCPL has a solid track record of success and is a well-managed business. It is in a good position to benefit from the expansion of developing markets and rise to prominence as a major FMCG player on a global scale.

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